“the game industry”: 🪦
Indies who make timeless classics on no budget: 🫡
Painful for who? I highly doubt any of the CEOs and investors interviewed are going to suffer all that much compared to the artists, programmers, and other employees that are going to be laid off because their company wants to be leaner, more dynamic, or whatever the latest buzzword is.
Oh no, we might be making marginally less profit than we told our investors we’d be making, and none of us have the backbone to just tell them that you know, sometimes you gamble money and get little in return.
Maybe they could consider just, you know, not releasing things that suck so bad.
They are. The games industry is releasing a lot of hits in recent times, and there’s a lot of money flowing in. Just not as much as covid times and interest rates are high.
This has nothing to so with the actual industry and the people making games.
A fair point, but I do want to highlight that we’ve had plenty of companies like Bethesda releasing crap like Starfield, using tactics that specifically turned on their artist employees, and then scratching their heads on why it didn’t sell as well as Skyrim or Doom. I’m also seeing a lot of C-class laziness here.
We’ve tried layoffs, we’ve tried cutting funding, revoking investments, and still they refuse to be profitable! We’ll close them now to show them how they failed.
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This would have happened sooner if it wasn’t for the cheap debt. Unsustainable businesses, hiring passionless staff and managers, mismanaging and producing sub par products.
Eventually people stop supporting these games.
When the money runs dry and it’s harder to borrow due to higher interest rates, you have to start cutting costs. And if your business is inefficient and bloated you have to downsize to survive.
If that doesn’t help, you go bust.
And the ripples from the SVB failure keep going.
Was nice knowing you Harebrained Schemes.
